Reliance Infrastructure today signed an agreement to sell its Mumbai power business to Adani Transmission for a total consideration of Rs 18,800 crore.
Reliance Infrastructure (RInfra) on Wednesday announced it has won two major engineering, procurement and construction (EPC) contracts in Bangladesh valued at Rs 5,000 crore through an international competitive bidding.
Adani Transmission Limited (ATL) will buy Anil Ambani-led Reliance Infrastructure’s (RInfra’s) Mumbai power business – Reliance Energy for around Rs 13,000 crore, reports, DNA Money, quoting sources.
Shares of Reliance Infrastructure gained nearly 4 per cent on Thursday as the company has won a Rs. 1,000-crore order from Nuclear Power Corporation of India (NPCI) after it emerged as the lowest bidder for an engineering and construction contract for the Kudankulam plant.
Kundankulam Nuclear Power Project: Reliance Communications Is Lowest EPC Contract Bidder, Beats Tata Projects, L&T
Reliance Infrastructure (RInfra) has emerged as the lowest bidder (L1) with a Rs 1,000-crore bid for an engineering, procurement and construction (EPC) contract at the Kudankulam nuclear power project in Tamil Nadu
Anil Ambani-led Reliance Infrastructure is slated to win a Rs 1,000-crore order from Nuclear Power Corporation of India (NPCI) after emerging as the lowest bidder for an engineering and construction contract for the Kudankulam plant, people familiar with the development told ET.
Adani Transmission’s proposed exclusivity agreement to acquire the power generation, transmission and distribution assets of Reliance Infrastructure would be incidental on right valuation of assets as experts believe anything above two times the regulated equity of Rs 3,500 crore would be negative for the company.
Adani Transmission, the power sector arm of Infrastructure major Adani Group, is in talks with Reliance Infrastructure for acquiring the latter’s power distribution business in Mumbai, which is estimated to be worth Rs13,000-14,000 crore.
Reliance Infrastructure has entered into a period of exclusivity with Adani Transmission for proposed sale of its integrated business of generation, transmission and distribution of power for Mumbai.
Reliance Infrastructure said it disagreed with the decision by India Ratings, a unit of Fitch, to downgrade its debt over delays in equity infusion and monetization of assets.